As per this study the Global Marine Engines Market was valued USD 10.5 BN (by revenue) in 2017 and is anticipated to reach USD 13.8 BN by 2024 with a CAGR of 4%.
 
Marine engines are machinery equipment used to provide power to vessels like offshore support vessels, commercial vessels, and other marine vessels. They consist of components such as the crankshaft, liner, pistons, bedplate, and head. Their components are corrosion inhibiting material and are specifically designed for sea operating environment. Excellent features such as easy maintenance, quiet operation, fuel efficiency, high performance, durability, and low harmful emissions make them ideal for marine application.
 
Objectives of the Study:

• Define and measure the global marine engines market
• Revenue forecast of the global marine engines market and its various sub-segments with respect to main geographies
• Analyze and identify major market trends along with the factors driving or inhibiting the market growth
• Study the company profiles of the major market players with their market share
• Analyze competitive developments

 
Market Dynamics
 
The marine engine industry is growing on the ground of robust growth in shipbuilding activities worldwide. Also, rising demand for commercial vessels such as bulk carriers and gas carriers has substantially contributed towards the growth of the marine engine market. Further, ongoing technological advancement in marine sector followed by rising sea-borne activities is again fueling the market growth over the forecast period.
 
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of marine engines.
 
Market Segmentation
 
The broad marine engines market has been sub-grouped into power, application and fuel. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
 
By Power

• Up To 1,000 Hp
• 1,001 Hp To 5,000 Hp
• 5,001 Hp To 10,000 Hp
• 10,001 Hp To 20,000 Hp
• Above 20,000 Hp

 
By Application

• Commercial Vessels
• Offshore Support Vessels
• Other Vessels

 
By Fuel

• Heavy Fuel Oil
• Intermediate Fuel Oil
• Marine Diesel Oil
• Marine Gas Oil
• Other Fuels

 
Regional Analysis
 
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for marine engines in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
 
Europe Marine Engines Market By Revenue (USD MN)
 

 
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the marine engines market include AB Volvo, Brunswick Corporation, Caterpillar Inc., Cummins Inc., Daihatsu Diesel MFG. Co. Ltd., Deutz AG, Dresser-Rand Group, Inc., GE Transportation, John Deere, Man Diesel & Turbo Se, Mitsubishi Heavy Industries, Ltd., Rolls-Royce Power Systems AG, Scania AB, Wärtsilä Corp, and Yanmar Co., Ltd. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
 
 
METHODOLOGY:
 
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.